Patriot Financial Group Insurance Agency LLC Invests $871,000 in Kinross Gold Co. (NYSE:KGC)

Patriot Financial Group Insurance Agency LLC purchased a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 94,000 shares of the mining company’s stock, valued at approximately $871,000.

Other hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Kinross Gold by 5.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after purchasing an additional 642,007 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Kinross Gold by 0.7% in the third quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after buying an additional 70,376 shares during the period. Artemis Investment Management LLP grew its position in Kinross Gold by 28.0% during the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock worth $80,191,000 after buying an additional 1,871,939 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Kinross Gold by 7.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock worth $66,509,000 after acquiring an additional 480,568 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Kinross Gold by 8.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,050,512 shares of the mining company’s stock valued at $56,705,000 after acquiring an additional 477,529 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Price Performance

Shares of KGC stock opened at $10.88 on Wednesday. The business has a fifty day simple moving average of $9.92 and a 200 day simple moving average of $9.58. The company has a market cap of $13.37 billion, a P/E ratio of 17.83, a P/E/G ratio of 0.90 and a beta of 1.21. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.95.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, sell-side analysts forecast that Kinross Gold Co. will post 0.72 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.10%. Kinross Gold’s payout ratio is presently 19.67%.

Analyst Ratings Changes

Several analysts have recently issued reports on KGC shares. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group increased their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average price target of $11.13.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.